Atlanta's 3 city pension plans all post gains for fiscal year

Atlanta's three city pension funds all posted positive returns for the fiscal year ended June 30.

Atlanta General Employees' Pension Fund returned a net 9.7% for the fiscal year ended June 30, below its benchmark, which returned 11.3%, according to an investment report on the city of Atlanta's website.

For the three, five, seven and 10 years ended June 30, the $1.8 billion general employees plan returned an annualized net 2%, 7.6%, 7.7% and 7.3%, respectively, compared with their respective benchmark returns of 1.7%, 7.3%, 7.5% and 7.2%.

The general employees plan had returned a net 9.7% for the fiscal year ended June 30, 2023.

For the latest fiscal year, as of June 30, the general employees plan's actual asset allocation was 40.7% U.S. equity (39% target); 20.5% fixed income (30% target); 17.6% international equity (15% target); 15.4% global equity (7% target); 2.8% real estate (3% target); 1.7% infrastructure (3% target); 0.7% alternatives (3% target) and the remainder in cash (zero target.)

The $1.5 billion Atlanta Police Officers' Pension Fund returned a net 11.1% for the fiscal year ended June 30, equaling its benchmark.

For the three, five, seven and 10 years ended June 30, the police officers plan returned an annualized net 1.7%, 7.6%, 7.6% and 6.6%, respectively, compared with their respective benchmarks of 1.6%, 7.3%, 7.5% and 7.1%.

The police pension plan had returned a net 9.8% for the fiscal year ended June 30, 2023.

As of June 30, the police plan had an actual asset allocation of 46.9% U.S. equities (39% target); 26.3% international equities (22% target); 23.5% fixed income (30% target); 1.8% alternatives (6% target); 1.4% infrastructure (3% target); and the remainder in cash (zero target).

Finally, the $872 million Atlanta Firefighters' Pension Fund returned a net 11.1% for the fiscal year ended June 30, matching its benchmark.

For the three, five, seven and 10 years ended June 30, the firefighters pension plan returned an annualized net 1%, 7.1%, 7.2% and 6.2%, respectively, compared with their respective benchmarks of 1.5%, 7.2%, 7.3% and 7%.

The firefighters plan had returned a net 9% for the fiscal year ended June 30, 2023.

As of June 30, the firefighters plan had an asset allocation of 46.6% U.S. equities (39% target); 25.3% international equities (22% target); 23.8% fixed income (30% target); 2.8% alternatives (6% target); 1.2% infrastructure (3% target) and 0.3% cash (zero target).

The city did not provide returns by asset class for the three pension funds.